Rabat – More than a third of Moroccan businesses are bracing for stagnating production in the coming three months, while only 23% of businesses feel that production could follow an upward trend.
When asked about the prospects for sales, businesses seemed ambivalent as 28% said they forecast a rise in sales, while the exact same proportion of other businesses said they feel sales are more likely to stagnate in the coming quarter, according to a survey from Morocco’s central bank, Bank Al-Maghrib (BAM).
In the same survey, a quarter of participating businesses said that the market remains cloaked in uncertainty, preventing them from estimating the prospects of either production or sales.
Breaking down the results of the survey by sector, BAM explains that 38% of businesses operating in the agro-food sector feel that business activities are very likely to stagnate in the third quarter of 2022.
The trend is even more prominent among businesses within Morocco’s textile industry, as more than half of respondents declared they don’t expect much change in overall business activities during the next three months.
Only 15% of businesses reported a positive outlook for the next quarter across all industries surveyed, BAM data suggests.
Regarding the price of finished products, survey results indicate that Moroccan businesses overwhelmingly think that prices would stagnate in the next quarter.
Less than 3% of all surveyed businesses said they expect prices to edge lower, while around 15% of businesses expect prices to go even higher, BAM data indicates.
Despite the uncertainty prevailing over the prospects of business activities for the coming three months, around 40% of surveyed businesses noted improved month-on-month activities at the end of June, the BAM report explains.
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